Lugang Technology (Bangladesh) Limited, a Hong Kong-based company, is going to invest $22.99 million to set up a textile factory in Ishwardi Export Processing Zone, media reported.
The company will produce 5,100 tonnes of raw and dyed yarn annually at the factory where 3,182 Bangladeshi nationals will get employment opportunities.
Ali Reza Mazid, investment promotion member of the Bangladesh Export Processing Zones Authority (Bepza), and Ding Feng, vice general manager of Lugang Technology, signed an agreement to this effect at Bepza Complex in Dhaka.
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